Indicators Report: Economic Recovery In Scranton/Wilkes-Barre Region Isn’t Stable

PLAINS TOWNSHIP, PA — Wages remain relatively low in Luzerne and Lackawanna counties and both need to work on more consistent long-term job creation and growth, said Teri Ooms, executive director of the Institute for Public Policy and Economic Development at Wilkes University.

Economic recovery in the two counties has been uneven since the recession hit in late 2007 and lasted until 2009. While the unemployment rate in the area has been dropping over the last few years, that was because those participating in the labor force decreased, Ooms said.

“The good news is labor force participation has finally begun to increase, more so within the past couple months,” Ooms said. “It is now at pre-recession levels, but the challenge we’ve had is post-recession. There have been too many peaks and valleys. We’re not stable.”

The region’s unemployment rate was among many issues Ooms and Andrew Chew, research analyst, discussed as they presented the institute’s 90-page Indicators Report for Luzerne and Lackawanna counties Thursday at Mohegan Sun Pocono’s convention center.

Read more:

http://citizensvoice.com/news/indicators-report-economic-recovery-in-region-isn-t-stable-1.1886047

Experts Worry Stagnant Wages Are Delaying Economic Recovery

Editor’s note:  Came across this article right after I posted about grocery store price increases. They certainly speak to each other.

Jim Talerico got a $900 raise this year, but he isn’t happy about it.

“It’s a terrible wage,” said Talerico, a part-time faculty member in Robert Morris University’s English department. “Now I’m making a whopping $14,400.”

It was the first pay raise in 10 years for the 54-year-old Ingomar resident. Even with the $13,500 he earns from his other part-time teaching job at Community College of Allegheny County, he said a barista job at Starbucks looks tempting. At least it would come with benefits.

Working Americans have had to make difficult choices — from canceling doctor’s appointments to cutting their grocery budgets — as their paychecks barely keep up with the cost of living.

Consumer spending drives 70 percent of economic activity, and wage stagnation has been a stubborn problem that might be holding back the recovery as other measures such as unemployment improve.

Read more: http://triblive.com/business/headlines/6812082-74/percent-pay-employers#ixzz3FO9O6Fhr
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Pittsburgh’s Median Family Income Rises

Locator map of the Greater Pittsburgh metro area in the western part of the of . Red denotes the Pittsburgh Metropolitan Statistical Area, and yellow denotes the New Castle Micropolitan Statistical Area, which is included in the Pittsburgh-New Castle CSA. (Photo credit: Wikipedia)

Household incomes rose in Pittsburgh in 2012 while the overall metropolitan area and the rest of the country saw incomes remain flat.

The city saw what the U.S. Census Bureau calls a statistically significant increase in household incomes as the median income rose by $3,281 to $39,884 from 2011 to 2012.

That happened as the median income in the seven-county metropolitan area stayed statistically the same, rising from $49,809 to $50,489. The median income for the metropolitan area was below the average of all U.S. metropolitan areas of $53,607.

The income information was contained in data released this morning as part of the American Community Survey.

Read more: http://www.post-gazette.com/stories/business/news/pittsburghs-median-family-income-rises-703920/#ixzz2fLzN7EPP

The 10 Richest Zip Codes In Philadelphia

English: Sam Austin House in Chestnut Hill Historic District on the NRHP, in Chestnut Hill, Philadelphia, Pennsylvania. At 5 East Chestnut Hill Ave. (equivalent to 8801 Germantown Avenue – the cross street) Coords40.078285,-75.210675 (Photo credit: Wikipedia)

We’re continuing to go through Pew Charitable Trust‘s 2013 state of the city report for Philadelphia (see our previous lists of the 8 most diverse neighborhoods and 15 largest private employers).  Today, we’re looking at the richest areas.

According to Pew, these are the 10 zip codes with highest median household incomes:

1. 19106 (Center City-Society Hill): $93,222
2. 19118 (Chestnut Hill): $80,950

To see the rest, click here:  http://www.philly.com/philly/blogs/phillylists/The-10-richest-zip-codes-in-Philadelphia.html

Census Shows Continued Economic Suffering From Recession

Map of the 21 counties of the State of New Jersey (Photo credit: Wikipedia)

The typical New Jersey household’s income dropped again last year, the fifth consecutive decline, according to new data released yesterday by the U.S. Census Bureau.

Not surprisingly, as incomes fell, the ranks of the poor rose.

“The latest federal statistics show there are more people in our state struggling in poverty than during any period in half a century,” says Melville D. Miller Jr., president of Legal Services of New Jersey. “That can cripple the development of our children and our state’s economic and social future.”

The latest Census estimates put the median household income in the state at $67,458. When adjusted for inflation, that was 3.4 percent less than in 2010 and 8.1 percent less than in 2008, the first full year of the recent recession. It’s also less than the actual, unadjusted, median incomes for the prior three years and only slightly above 2007’s actual median income of $67,035 — $72,666 in 2011 inflation-adjusted dollars.

Read more: http://www.njspotlight.com/stories/12/09/20//

NEPA Plagued With Poverty, Census Numbers Say

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

Nearly one in every three children in Scranton lived in poverty in 2011, according to a new census report released Thursday.

In Lackawanna County, about one in every five children lived in poverty last year, while in neighboring Luzerne County, about one in three children did, U.S. Census Bureau estimates show.

Overall, on average, about one in every seven residents in both Lackawanna and Luzerne lived in poverty in 2011, the figures show.  In Scranton, nearly one in four city residents lived in poverty.

The poverty numbers underscore what local community leaders already know: More people in Northeast Pennsylvania are struggling to make ends meet.  And, they say, the numbers don’t tell the whole story.

Read more:  http://thetimes-tribune.com/news/nepa-plagued-with-poverty-census-numbers-say-1.1376654#

Even Limerick Township Is Not Recession Proof

Image via Wikipedia

When one thinks of communities that would have budget woes, Limerick Township is not normally a place that would pop into your head. 

The 22.6 square mile township has 13,534 inhabitants (2000 census).  85% of Limerick’s residents own a home.  The estimated median house/condo value in 2008 was $271,583.  The estimated median income in 2008 was $81,877.  Only 1.9% of its residents live below the poverty level.  These numbers are well above the state averages.

Somehow, the township found themselves with an $850,000 deficit going into their 2011 budget process.  Declines in land development and permits (recession) were blamed.   The end result was making some hard decisions about purchases and facility upgrades along with the elimination of two staff positions.

Bottom line here is that taxes will not increase for 2011 and the budget trimming will not reduce services for residents.

Demographic information is from City-data.com

Demograhics, Border Development And Low-Income Riverfront Housing

Hopefully,  looking at these figures will help illustrate why Pottstown needs to move away from low-income and Section 8 housing if we ever want to revitalize this community.  Looking at the numbers, we are again at the bottom.  And we wonder why development happens all around us?  Not really!  Welcome to the donut hole.  You can find this information at city-data.com

Pottstown Borough 4.9 square miles  –  Estimated median household income in 2008: $45,941

Upper Pottsgrove Township 5.0 square miles –  Estimated median household income in 2008: $89,145

West Pottsgrove Township 2.4 square miles –  Estimated median household income in 2008: $54,067  

Lower Pottsgrove Township 7.9 square miles –  Estimated median household income in 2008: $65,879

Douglas Township (Montgomery County) 15.3 square miles –  Estimated median household income in 2008: $70,404

North Coventry Township 13.4 square miles –  Estimated median household income in 2008: $65,694

East Coventry Township 10.8 square miles –  Estimated median household income in 2008: $73,497